Enhance overall customer experience for insurance property claims
Reduce claims leakage + increase customer satisfaction saving you millions
It's free, forever. Try it today!
It’s not just another tool, it’s an entirely new approach to property claims management
Gain complete oversight throughout the entire claims remidation process
Gain complete oversight throughout the entire claims remidation process
What does it look like?
CostCertified can handle any type of project or work. It is a cost-first estimating model that starts with labour/subcontracting and materials costs.
We have pricing lists that adjusters/contractors can draw from that include labour and materials, indexed by postal code, for all of North America, for restoration, cleaning, construction, utilities and more. We have tens of thousands of items from Lowes and Home Depot as well with real-time actual costs. You can use or own costs, or contractors can too. You can specify options that you can see the profit/labor/materials for your contractor and all of their subcontractors. You can set the maximum profit for you contractors. The workflow of the app is specifically designed for contracting including restoration. What we do differently is give the adjuster (and your customer) much greater transparency on the costs, progress and quality of work being completed.
It actually starts with costs. It is a cost-first platform. Currently you have a limited view of your costs, and cost databases only give you averaged costs based on surveys. It could be high it could be low. After the job is taken by your contractor, all you know is what they tell you. They may not even know their own profit. They might be subcontracting pieces of the work to subcontractors who are making 70% profit on these jobs.
Right now, you only guess your materials and labour costs. In CostCertified you can see budgeted vs actuals as they happen. In CostCertified not only do you get a full view of fine-grained data on labour and costs, you can see the same view for all your contractors and their subcontractors. You will know which items are complete and which ones are holding up the job. Which ones are overpriced, and which ones are underpriced.
In CostCertified you absolutely do get all that data, and it's actually real data based on marketplace costs and pricing, instead of an educated guess.
Projects can be assigned to adjusters by round-robin automatically as they come in, or manually assigned in one click. After it's assigned, it can be re-assigned. Projects go into their pipeline view where they can see an overhead view of all their projects grouped by their status, whether they need to be estimated, approved, followed up etc. It has tasks that can be automatically assigned at different stages of the project to the adjuster, or the contractor to make sure certain things are not forgotten. You can require that the adjusters get management approval of projects. You can have a management view where they can see all their adjusters projects in the pipeline. Adjusters can have permissions that permit them to only see their own clients and projects etc. All of that is already built in.
The process for contractors to use the app is seamless. The estimating can be started by the broker or client because it is so easy, can be done in wizard form. Then the adjuster gets a notification when it is automatically assigned to them, it shows up in their pipeline. The adjuster can go in and refine the items, add, remove change etc. Then the adjuster can bid it out to their list of approved contractors. The contractors get a secure link to their email that sends them directly to that project page, where they can put in their prices (if the adjuster requests bid pricing, for competitive marketplace pricing) or if the adjuster is dictating the pricing, then they just need to approve. They can add items they think are missing that will go back to the adjuster for approval if needed etc. Done! No network of contractors required. The contractor will automatically have an account the minute the adjuster send an automatic bid request to their email. The same contractors you use right now.
This is really important to understand. The core of the platform is the estimating tool that has been built in such a way to make it extremely user friendly where you can do estimates in less than 15 min but it still has every line item including material and labour costs.
Plus, it allows for marketplace pricing… this is way more powerful than using a cost database when supply and demand changes constantly. Price in the real-world is always determined by supply and demand and CostCertified allows for marketplace pricing by sending out private link to each contractor & sub contractor to confirm or edit their costs with a click of a button. This allows for extremely accurate pricing.
The best part is that CostCertified will work with any insurer to set-up pre-built assemblies that have all the costs inputted. That means you will still get a fairly accurate estimate instantly but have the option for *competitive* marketplace pricing as well to reduce costs. The platform has total flexibility to match whatever business needs you may have. But I need to emphasize that the entire point of CostCertified is to allow for real-time, highly accurate pricing that includes all costs.
Sizes and quantities (we call it dimensions) are built in to the core of the estimating tool. If diagrams are something that you need for some reason we could build it in, however diagrams are not valued by the contractors and are a barrier for them in using other programs, so we made a conscious decision to base our workflows around how contractors always to their estimating already (and that doesn't include diagrams). It is mostly insurance-centric costing programs that do the diagrams, and contractors dislike using them.
Payment in CostCertified to the contractor is only made once the work is completed and customer is satisfied. No advance funds required.
It will lower leakage because you can track and see the costs and profit for all your contractors, AND all their subcontractors. You can see when you are getting fleeced. You can see which jobs come in under budget or over budget. You can track cost changes over time. You can update your items to reflect changes in the market.
Also, It will lower costs if you open it up to competitive marketplace pricing which is made possible by the efficiencies that allow estimates to be completed in minutes with a wizard-like guide for contractors to just follow steps, following a link by email.
Let contractors compete for your work. It will lower leakage because the contractors know they are competing, and being supervised, and will estimate and act with that in mind. It will no longer be their highest margin AND most reliable projects. It will be reliable with lower, competitive pricing. Once you measure the loss (currently you can't), it will become so clear that you can fix it.
It will lower leakage because you can track the status of each job at a glance, you can see which items inside each project are holding up each job. You can see if certain subcontractors are holding up a particular job because their items aren't done. You can see if certain general contractors are not getting jobs done. If things aren't getting done, re-bid projects or items to different contractors. Get them done faster. Customers can see the status of their projects, and their individual items. They can approve items and upload pictures. They can rate and review contractors so you know which ones to keep and when to find new ones. Customers can help themselves to the most common questions on their portal, so they don't bog down your adjusters and call centres with questions. It will dramatically increase efficiency for your adjusters, so they can take on more projects. Your costs are going to plunge.